Lift truck and material handling solutions manufacturer Hyster-Yale Materials Handling (NYSE: HY) will be reporting results this Thursday after market hours. Here’s what you need to know.
Hyster-Yale Materials Handling beat analysts’ revenue expectations last quarter, reporting revenues of $812.9 million, down 15% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Hyster-Yale Materials Handling a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Hyster-Yale Materials Handling’s revenue to decline 5.4% year on year, a further deceleration from the 3.6% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Hyster-Yale Materials Handling has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Hyster-Yale Materials Handling’s peers in the professional tools and equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Fortive delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 3.3%, and Hillman reported revenues up 7.7%, falling short of estimates by 0.8%. Fortive traded up 6.8% following the results while Hillman’s stock price was unchanged.
Read our full analysis of Fortive’s results here and Hillman’s results here.
Investors in the professional tools and equipment segment have had steady hands going into earnings, with share prices flat over the last month. Hyster-Yale Materials Handling is down 8.3% during the same time and is heading into earnings with an average analyst price target of $50 (compared to the current share price of $29.30).
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